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Buying used GT advice needed

Hi all i have been lurking her for a while. I drove GTs back when I was a teen and have been thinking about purchasing a used one as a weekend car. Been reading the forums and watching the prices on-line. I am ready to pick one up and have decided that somewhere around 20K is a good cap for a car that is going to sit five days a week. I do plan on upgrading wheels/tires, suspension, and seats. The cars I have come across;

2008 GT Premium $21K - 11K miles. Leather and shaker 1000. A one owner car. A few scratches but otherwise the car is like new. Private party value on this car in excellent shape is about 19 and retail is about 21. The guy wont budge from 21K.

2012 GT Premium also $21K - 33K miles on it in 18 months of ownership. Only option on the car is a 3.55 axle. I found this car at a non-ford dealer. Sales guy hands me a printout of the work they did to it to make it legal. Everything on the printout is related to the lighting system. Replacing all types of bulbs and headlight and taillight assemblies. He tells me it came in with all non legal lighting. Plus new tires they have 3K of prep into it. I go look at the car and look under the hood; looks like aftermarket valve covers (red in color), but I can't tell if anything else under the hood has been modified since the rest of it appears stock at this point. Interior is like new. A look under the rear end; exhaust appears factory like its about two years old, the front of the rear differential is soaking wet with oil and there is a 4" spot on the ground from dripping (i understand the pinion seal and breather vent is an issue on these cars.) I grab the top of the rear tire and shake it in and out and it feels like at least a quarter of an inch of play so I imagine it also needs wheel bearings but i did not hear any bearing noise while driving it - both rear wheels have the same exact amount of play. There is still 3K miles on the factory bumper to bumper warranty so I would guess these items are still covered if not under the powertrain warranty. I am not sure if this car is a good deal for 21K or something I should run from. I think retail on it in excellent condition is 26K.

There are a lot of 05-09 models out there and they all have 30K-80K miles on them and priced from 13K-19K. I don't have a problem picking one of these up it's just a little more difficult to find one that is clean and not too beat up other than normal wear and tear.

Obviously I would like a 5.0 over a 4.6 but except for the one I noted above, they all start in the mid 20s which is more than I want to spend on a weekend car. So I am asking for some input in what you all think I should be looking at for a not too beat-up weekend car. The 5.0 is sweet since it has the bigger numbers to put down and also has noticeably less road noise than even the 08 with 12K miles on it.

After reading the forums here I imagine some of you are going to say - get the 5.0 you cant go wrong. And others will say - save the money and by a 4.6L with 80K for $13-14K since there is no value to be gained by spending more for less mileage. Maybe I just answered my own questions...

Any suggestions on which way to lean would be appreciated thanks. - John

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That '12 sounds like it was flooded, I'd say run. No car should have issues you're describing with only 33k! Make the lights legal? RUN.

Before I bought my 05 the other week, I was in the same boat. Every car I looked at, got a Car Fax ran. Luckily I have friend who could run them for me any time. If the seller wouldn't willingly give a VIN, I wouldn't even bother. It was tough enough to find an S197 in my area with similar wants as you.

I think I got a pretty good deal on mine. A Premium 05 with 38k for 13k and already has mods that I was planning to do.

2008 GT Premium should be around $16k with low miles/perfect condition AT MOST or walk away. That guy is being a huge jerk.

I can go find a '12 5.0 with under 10K miles for around $21k. they're everywhere. If you're really smart you'll wait a few months until the '15s hit the showroom and you'll have dealerships BEGGING you to take previous years used & new off their hands.

2008 GT Premium should be around $16k with low miles/perfect condition AT MOST or walk away. That guy is being a huge jerk.

I can go find a '12 5.0 with under 10K miles for around $21k. they're everywhere. If you're really smart you'll wait a few months until the '15s hit the showroom and you'll have dealerships BEGGING you to take previous years used & new off their hands.

Educate me please. Based on KBB and cargurus a 2009 w/7K miles has a fair value of 24K. What am i not understanding? Even scanning ebay and craigslist and trader I don't see low mileage 08-09 cars selling for 16K or '12 models for under 24.

All I can tell you is that you can get a private sale '08 GT with low mileage in excellent condition for about $17k give or take. KBB used to be pretty close to actual market value and I can't tell you when they skewed. Sometimes in high demand areas those prices may apply but feel free to pay what you want. I have a clean '07 GT with under 40k miles and I'd be hard pressed to get $17k for it.

Considering you can walk off a lot with a leftover '13 GT base for $27k -$29k, why would you pay $21k for a used, 6 year old model (yes, the 14's are already on the street)?

To me, if looking for a car that I expect to keep, to drive, to invest time in, of the two mentioned, car for car ..... I'ld trust the 11K miles '08 more. That '12 sounds like trouble, and there's 33K chances of it. The rear axle is a solid axle, that 1/4" isn't wheel bearings. I'ld want to crawl under it and watch while someone else shakes that 1/4" to see if pan hard bar bushings shot or maybe excessive wear in differential. That '12 just sounds "Rode Hard & Put Away Wet" to me.

If the '08 isn't quite worth the $21K, I'ld look further. There are still plenty of '08s and '07s with low miles and that have been taken great care of whose owners will ask less. I bought an '08 in June, under 22K miles for under $18K.

I bought my '07 in '09 with 20k miles for $18k out the door. That was when the car was 2 years old. Yes, some people will be foolish enough to buy that '08 for $21k but the educated smart buyer will not. It's just a car, there will be better deals out there. I can buy a barely used 5.0 for $21k from a stealership.

Keep searching the 08 has scratches and the guy wants mint condition money. I'd take cash to him about 15 to 16 and point out scratches and make your offer in cash. The 5.0 sounds a bit strange. And if it does then u should not even consider it. You don't want your weekend car to turn into a every weekend project. Look outta state as well u would be surprised how much money u can save

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